The Federation Council of the Federal Assembly of the Russian Federation has ratified the treaty between Russia and the Kingdom of Norway on the maritime boundaries delimitation and cooperation in the Barents Sea and the Arctic Ocean, the press office of the upper house of Russian Parliament said.
The treaty meets the norms and principles of modern international law, the criteria of justice, taking into account and ensuring the legitimate rights and interests of the two parties. The Treaty sets accurate boundaries of sovereign rights and jurisdiction of Russia and Norway, provided for the continuation of bilateral cooperation in fisheries, define the mode of joint exploitation of transboundary hydrocarbon deposits.
The Treaty provides for the concession to Russia from Norway a special area in the central part of the Barents Sea of 3,400 square meters that will be in exclusive economic zone of the Russian Federation.
The Treaty is also important in the context of establishing the outer limits of the continental shelf of the Russian Federation in the Arctic Ocean.
Maritime delimitation between Norway and Russia strengthens the legal regime of the Arctic on the basis of the UN Convention on the Law of the Sea 1982.
The treaty was approved by the Norwegian Storting in Feb. 8, 2011.